Lumina Gold Announces Cangrejos Drill Results

VANCOUVER, British Columbia, May 23, 2018 (GLOBE NEWSWIRE) -- Lumina Gold Corp. (TSXV:LUM) (OTC:LUMAF) (the “Company” or “Lumina”) is pleased to announce additional drill results from the Cangrejos infill, step-out and depth extension program. These five holes (C18-71 to C18-75) represent 2,086 metres of drilling from February to April, 2018. During that time, Lumina also drilled an additional 262 metres to support further metallurgical test work for the Preliminary Economic Assessment that is in progress. The Company is continuing to drill at the property with one drill rig and is currently on hole number C18-80.

Holes C18-71, C18-72 and C18-74 have confirmed the north-northeast extension of the Cangrejos deposit and define a sub-vertical, well mineralized body; high-grade values appear from surface (C18-71, 0-288 m @ 0.75 g/t Au and 0.14% Cu) and to a maximum depth of 550 meter down-hole depth in C18-74. Mineralization in the north-northeast extension remains open to the north-northeast and at depth.

Hole C18-73 intersected several intensely mineralized zones from the surface to a down-hole depth of 586 meters within the central portion of the deposit (hole ended in mineralization).

Hole C18-75 was collared on the south side of the deposit and successfully tested surface mineralization in the southern extension (0 to 168m @ 0.64 g/t Au and 0.15% Cu). 

The 2018 drill holes to date have confirmed the geological interpretations obtained in previous drilling programs as porphyry-style gold-copper mineralization. These results, in conjunction with previous drilling programs, suggest high-grade mineralized zones remain open to the north, south, west and at depth.

Summary Drill Results

Note: Intervals in the reported holes are calculated using a cut-off of 0.2 g/t Au with maximum internal dilution of 10 continuous metres and the highest gold value used in the reported weighted averages is 7.94 g/t Au. Above cut-off intervals of less than 12m are not reported, and in addition to the above results there were multiple intercepts of lower-grade material in the drill holes.

Quality Assurance

All Lumina sample assay results have been independently monitored through a quality control / quality assurance ("QA/QC") program including the insertion of blind standards, blanks and pulp and reject duplicate samples. Logging and sampling are completed at Lumina’s secure facility located at the Cangrejos project. Drill core is sawn in half on site and half drill-core samples are securely transported to ALS's sample preparation facility in Quito, Ecuador. Sample pulps are sent to Lima, Peru for analysis. Gold content is determined by fire assay of a 30 gram charge with total copper content determined by four-acid digestion with ICP finish.

Qualified Persons

Leo Hathaway, P.Geo, Senior Vice President of Lumina and the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects for the Cangrejos project has reviewed, verified and approved the contents of this news release.

About Lumina Gold

Lumina Gold Corp. (TSXV:LUM) is a Vancouver, Canada based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. The Company’s Cangrejos Gold-Copper project is located in El Oro Province, southwest Ecuador, and its Condor Gold-Copper project is located in Zamora-Chinchipe Province, southeast Ecuador. The Company also holds a large and highly prospective land package in Ecuador consisting of 135 thousand hectares. The Company has an experienced management team with a successful track record of advancing and monetizing exploration projects.

Further details are available on the Company’s website at https://luminagold.com/.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.